LOOKING FOR HELP WITH YOUR CURRENT MORTGAGE?

President Obama has created several programs online for consumers to use.  Please check them out and see if you can benefit from any of these newly developed programs which were created to help homeowners who may already be in trouble with their current mortgage, or not in trouble, but concerned about the value of your home and mortgage amount which may have been affected by the current market conditions.

MakingHomeAffordable.gov    There are two different programs available to you at this site. Look for the one you believe fits your situation and take the short quiz to see if you are eligible. The choices are:

• HOME AFFORDABLE MODIFICATIONS - if are a homeowner and you cannot make your monthly loan payment, you may qualify for a loan modification.

• HOME AFFORDABLE REFINANCE - if you are a homeowner current on you mortgage payments but unable to refinance to a lower interest rate because your home value has decreased, you may be able to refinance.

TIPS TO REMEMBER WHEN TALKING TO YOUR LENDER

Whether you are contacting your lender because you are late with your payment or any other type of situation, these are a few of the seventeen guidelines provided by the Pro Bono Resource Center of Maryland. handout called Foreclosure Prevention Pro Bono Project, Foreclosure Solutions Workshop Roadmap (www.civiljusticenetwork.org). They use them when participating in workshops held in many locations throughout the State. Some of these events are posted on their website. If you plan to attend any of them, please register in advance to be able to meet with an attorney. You will also need to bring all documents relating to the mortgage including any notices you have received from your lender or servicer.

1. Keep a log of all attempts to contact my mortgage company to resolve mymortgage situation. Write the dates and times that I called, mailed, and faxed documents to my mortgage company. If I spoke to someone, get their name, title and direct phone number.

2. Meet with a nonprofit housing counselor to help me negotiate with my mortgge company. Call the Maryland HOPE Hotline at 1-877-462-7555 for a referral to a housing counselor near me.

3. Call the Maryland HOPE Hotline at 1-877-462-7555 or go to www.mdhope.org to find out about resources available to help homeowners avoid foreclosure.

4. Ignore letters and phone calls from strangers offering to help save my home from foreclosure.

5. File a complaint with the Commissioner of Financial Regulation against the company or individual who took my money and falsely promised to help with my mortgage. Call 1-888-784-0136.

6. File a complaint with the Commissioner of Financial Regulation against a mortgage lender, mortgage broker or mortgage servicer. Call 1-888-784-0136.

7. Consider selling my house. If my mortgage balance is greater than the sale price of my home, I will try to obtain my mortgage company's approval for a short sale. I will work with a real estate agent who has experience in short sales.

8. If I consider a short sale, I will consult an attorney to negotiate with my mortgage company to ensure that my mortgage company will waive the deficiency between the amount owed on my mortgage and the amount my mortgage company accepts on a short sale. I should meet with a tax attorney to find out if forgiveness of debt is taxable income in my case.

Mortgage Late?  Don't Wait!

click here to go to the Maryland HOPE website

CENTURY 21 HT Brown Real Estate
6301 Steven' s Forest Road #150
Columbia, MD 21046
Phone: 888-754-7771
Email: Send Email